RPG group to set up JV with leading international food chain

MUMBAI: The Harsh Goenka-spearheaded RPG group is close to finalising a joint venture with a leading international major to set up a coffee shop-cum-specialty-food chain in the country.

The RPG group will hold a majority 51 per cent stake in the joint venture, a source close to the development reported the media.

The JV will be run under the brand name of the international major and the agreement is expected to be inked shortly, the source said, adding that the first chain of 15-20 outlets would be set up in Bangalore.

The RPG group plans to set up 250 such outlets in other major metros and cities "over time", the source said. The source, however, declined to identify the international major. The RPG group is a highly-diversified conglomerate with interests in tyres, retail, IT, power, telecom and power transmission and plantations.

The business plan for the venture is presently being fine-tuned. When contacted, a RPG spokesperson refused to comment on the issue. The business' concept would be more or less similar to those of other chains such as Barista or Cafe Coffee Day but the JV would give a strong focus to food offerings unlike other chains, the source said.

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